A company called TerraZero Technologies Inc has just provided the first-ever metaverse mortgage. It was used to buy virtual real estate within the metaverse.
TerraZero say that metaverse mortgages “provide for a greater number of people to acquire virtual real estate.” Are we really getting into debt for virtual land now? Is this what the metaverse was really designed for? Getting into debt in new and exciting ways? The mind boggles.
TerraZero Technologies call themselves a “vertically-integrated Metaverse technology company.” While the company didn’t provide all of the financing to buy the land parcel, they provided most of it.